James Stanley

GBP/USD held in a range for much of Q1, even as USD strength re-appeared. But a fundamental twist in March puts bulls on their back foot, with GBP/USD limping into Q2 at confluent support.

Price action strips away the indicators and focuses on the most important variable on the chart, price itself. In this article we look at how traders can get started with this field of study.

Gold has been extremely bullish since last October’s open and as the Fed’s retained a dovish stance the yellow metal has forced a massive breakout. The big question now is whether it can continue.

Oil prices have been very range-bound over the past few months but breakout potential remains as WTI has built an ascending triangle inside of the recent range.

Gold has been resilient so far in 2024 even as USD strength re-appeared. The big question now is whether bulls can find a more favorable outcome on tests of resistance at $2,032 or $2,050.

Euro bears have been persistent so far this year, but they’ve also shown a degree of hesitancy on tests of fresh lows as the longer-term range remains in-play.

The U.S. Dollar set another fresh high yesterday, extending the bullish structure that’s priced in so far this year.

The U.S. Dollar broke out and set another fresh 2024 high this morning as the currency continues to claw back Q4 losses.

Gold is holding on to a near 12% gain in 2023 but it’s the position on the chart and the backdrop of monetary policy that’s of interest for 2024.

While there were numerous twists and turns this year the US Dollar is nearing completion of 2023 with a doji to show for this year’s trade. But next year is loaded with a presidential election along with Yen-themes that will likely remain front and center for FX traders.

Tonight’s Bank of Japan rate decision will be widely-watched for clues of any possible changes on the horizon. The BoJ knows this, so the big question is whether they touch the topic tonight or wait until 2024.

The Bank of England seems an outlier at this point as they remain one of the more hawkish Central Banks and GBP/USD is driving to a fresh three-month high after the FOMC and BOE rate decisions.

Markets started the week on edge as geopolitical tensions have increased, leading to a bounce in both gold and oil prices.

US Treasury yields have shot to fresh highs after last week’s FOMC meeting and this has helped the US Dollar to continue it’s bullish trend after ten consecutive weeks of gains to set a fresh 2023 high. US Dollar bulls have awoken in Q3 as 10-year yields drive to fresh 15-year highs.

It’s been a big week for global markets and it’s not over yet, with the Bank of Japan rate decision scheduled for later today.

EUR/USD has been selling off since setting its current high two months ago and it’s a big week for the pair as European inflation data leads into the FOMC rate decision on Wednesday.

The focus shifts to the Fed next week, with the big question as what the bank sees on the horizon for the rest of the year. US data has remained hot but there are minimal expectations for any actual moves next week.